Chinese, Swiss Central Banks Sign Bilateral Swap Agreement
The Schweizerische Nationalbank (Swiss National Bank) (OTCMKTS:SWZNF) announced that it has entered into a bilateral swap agreement with the People’s Bank of China (PBC) that allows the central banks to purchase and repurchase up to 21 billion Swiss francs or 150 billion renminbi (about $23 billion) to help establish renminbi market in Switzerland. SNB has also been granted a 15 billion renminbi investment quota in the Chinese interbank . . .
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